Macy’s reported its first same-store sales decline in 2 years, citing warmer weather and weaker traffic at some malls. Q3 earnings beat Wall Street estimates, but revenue for the quarter was lower than expected.
on Thursday reported its first same-store sales decline in two years, casting blame on warmer weather and weak traffic at some shopping malls.Macy's stock was down more than 6% in premarket trading after plummeting more than 10% following the earnings release.
He said the company also experienced issues, albeit briefly, on its website during the period, "in preparation for the fourth quarter." Net income during the quarter ended Nov. 2 fell to $2 million, or a penny a share, from $62 million, or 20 cents, a year earlier. Excluding one-time items, Macy's earned 7 cents a share, better than the breakeven consensus in Refinitiv's survey of analysts.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
L Brands sales fall short as Victoria's Secret declines accelerate, shares rise from 52-week lowL Brands turned in mixed third-quarter results Wednesday as declining sales at Victoria's Secret have continued to weigh its performance.
Lire la suite »
Retail earnings, manufacturing gauge, home sales: 3 things to watch for in the markets on ThursdayWe'll get earnings from Macy's, Gap and Nordstrom, the Philadelphia Federal Reserve manufacturing gauge and existing home sales on Thursday.
Lire la suite »
Alibaba, Aramco share sale bonanza fails to produce fee windfall for banksA late-year rush of giant global share sales led by Alibaba's $13 billion H...
Lire la suite »
Aston Martin launches first SUV, hopeful of a turnaroundAston Martin, which has seen its share price plunge this year as sales failed to...
Lire la suite »
CN Rail dips as workers' strike enters second day, slows factory outputShares of Canadian National Railway Co fell as much as 2.2% on Wednesday, as a s...
Lire la suite »
Asian shares slide as Sino-U.S. spat on Hong Kong clouds trade deal outlookGlobal shares slid on Thursday as a fresh row between Washington and Beijing ove...
Lire la suite »